Bau Inc. issued bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds have a $40,000 par value and an annual contract rate of 10%, and they mature in 10 years. Instructions: For each of the following 3 separate soituations, (a) determine the bonds issue price on January 1, 2015, and (b) prepare the journal entry to record their issuance. 1 The market rate at the date of issuance is 8%. 2 The market rate at the date of issuance is 10%. 3 The market rate at the date of issuance is 12%